Castle Rock Wealth Management LLC Reduces Stock Holdings in ServiceNow, Inc. (NYSE:NOW)

Castle Rock Wealth Management LLC cut its position in shares of ServiceNow, Inc. (NYSE:NOW) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,989 shares of the information technology services provider’s stock after selling 161 shares during the period. Castle Rock Wealth Management LLC’s holdings in ServiceNow were worth $1,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. LVW Advisors LLC lifted its stake in shares of ServiceNow by 34.4% in the 3rd quarter. LVW Advisors LLC now owns 528 shares of the information technology services provider’s stock valued at $472,000 after purchasing an additional 135 shares during the last quarter. Capital Insight Partners LLC lifted its position in ServiceNow by 4.0% in the third quarter. Capital Insight Partners LLC now owns 1,466 shares of the information technology services provider’s stock valued at $1,311,000 after buying an additional 56 shares during the last quarter. Strategic Advisors LLC boosted its stake in ServiceNow by 1.2% during the third quarter. Strategic Advisors LLC now owns 3,448 shares of the information technology services provider’s stock worth $3,084,000 after buying an additional 41 shares during the period. Quotient Wealth Partners LLC increased its position in shares of ServiceNow by 30.4% during the third quarter. Quotient Wealth Partners LLC now owns 780 shares of the information technology services provider’s stock valued at $698,000 after acquiring an additional 182 shares during the last quarter. Finally, Financial Advisory Partners LLC purchased a new stake in shares of ServiceNow in the 3rd quarter valued at approximately $282,000. 87.18% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other ServiceNow news, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the completion of the sale, the insider now directly owns 3,649 shares of the company’s stock, valued at $3,027,502.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Russell S. Elmer sold 1,937 shares of ServiceNow stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $779.81, for a total value of $1,510,491.97. Following the transaction, the general counsel now directly owns 6,736 shares in the company, valued at $5,252,800.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Tzitzon sold 1,857 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $829.68, for a total transaction of $1,540,715.76. Following the transaction, the insider now owns 3,649 shares of the company’s stock, valued at approximately $3,027,502.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,914 shares of company stock valued at $5,608,936 over the last quarter. 0.25% of the stock is currently owned by insiders.

ServiceNow Stock Performance

Shares of NOW stock traded down $1.81 during trading hours on Friday, hitting $942.82. The stock had a trading volume of 257,483 shares, compared to its average volume of 1,277,234. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $194.22 billion, a PE ratio of 170.56, a PEG ratio of 5.63 and a beta of 0.99. The stock’s 50 day moving average is $858.21 and its 200 day moving average is $785.04. ServiceNow, Inc. has a twelve month low of $527.24 and a twelve month high of $949.00.

ServiceNow (NYSE:NOW) last issued its quarterly earnings results on Wednesday, July 24th. The information technology services provider reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.28. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.61 billion. ServiceNow had a net margin of 11.51% and a return on equity of 14.52%. ServiceNow’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. As a group, research analysts forecast that ServiceNow, Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on NOW shares. Piper Sandler lifted their target price on shares of ServiceNow from $830.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on ServiceNow from $885.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on ServiceNow from $875.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Guggenheim reiterated a “sell” rating and set a $640.00 price target on shares of ServiceNow in a research note on Monday, July 8th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $835.00 price objective on shares of ServiceNow in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $880.04.

ServiceNow Company Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.